Meineke Acquires Aero-Colours, Inc.
CHARLOTTE, NC (10/11/2005) - CHARLOTTE, NC (October 11, 2005) – Meineke Holding Co., the parent of Meineke Car Care Centers, Inc., announced today the acquisition of Aero-Colours, Inc., a Minneapolis-based automotive mobile paint repair franchise that primarily services new and used car dealerships.
From Meineke headquarters in Charlotte, NC, President and CEO Kenneth D. Walker stated, "We've learned a lot since the first Meineke franchise opened more than 30 years ago. When the time came to consider acquisitions, we sought out a business that played to our strengths: a comprehensive understanding of franchising and the automotive repair market. Aero-Colours, Inc., is a tremendously successful franchise whose trade complements the services offered by Meineke Car Care Centers."
"The existing infrastructure at Meineke, particularly in the area of franchise development and training, brings a new level of experience and expertise that can only contribute to the growth and success of Aero-Colours," said Jim Spellmire, President of Aero-Colours.. "An unexpected benefit is the opportunity franchisees from both companies will have to expand into an untapped market in their own communities, since Aero-Colours' and Meineke Car Care Centers' current market areas generally don't overlap. It's a win-win-win move for both companies and their franchisees."
Following the completion of the deal, Spellmire will retain his position as President, with the remainder of the Aero-Colours management team remaining in place as well.
About Meineke Car Care Centers, Inc.
Beginning in 1972 with a single shop specializing in exhaust work, Meineke Car Care Centers, Inc., has expanded its menu of product offerings to meet the demands of a changing marketplace. In 1986, the chain, a subsidiary of Meineke Holding Co., relocated from Houston to Charlotte, NC. Demonstrating steady growth, both domestically and internationally, Meineke now represents nearly 900 franchised shops, with an additional 100 licenses sold and in development. The American Association of Franchisees and Dealers recognized Meineke as its Franchisee of the Year, and Meineke regularly appears in Entrepreneur Magazine's Annual Franchise 500, a list of the 500 best franchise opportunities in America. For 2005, Meineke ranked 60th among this elite group.
About Aero-Colours, Inc.
Since 1985, Aero-Colours, Inc., has been repairing chips like no one else. It was the first company to market an airbrush touchup process for repairing stone chips on automobiles. Aero-Colours began by servicing new car dealerships exclusively, then extended service to used car dealers and now provides service to owners of personal vehicles. In time, the company established its own Research and Development department, which has introduced two- and three-stage blending capabilities, as well as processes that repair cracked and dented bumpers. Working out of specially equipped vans, Aero-Colour's 200 franchised mobile units now serve over 200,000 vehicles annually in North America and Europe.
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